KARACHI: The Pakistani rupee loses again against the United States (US) dollar in the interbank currency market on Friday.
In early trade, the local currency gained appreciating by 67 paisas to Rs174 against the greenback. However, the rupee couldn’t maintain positive momentum and soon afterwards, lost 28 paisas and is now trading at Rs175.05.
The rupee had closed at Rs174.67 against the US dollar in the interbank market the other day.
In the open market, however, the dollar is trading at Rs175.60 against the local currency.
On Thursday, the State Bank of Pakistan (SBP) took notice of the involvement of bankers in rupee devaluation.
SBP Governor Reza Baqir met the heads of commercial banks and informed them of their employees’ alleged involvement in encouraging large-scale buying of dollars, causing rupee fall.
Governor Baqir directed the banks to take stringent action against the employees found involved in such practices besides monitoring the computers and phone records of the suspicious employees.
